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Friday, April 18, 2008

Citi: $13 billion in write-downs

by Calculated Risk on 4/18/2008 08:44:00 AM

From the WSJ: Citigroup Swings to Loss On Hefty Write-Downs

Citigroup Inc. said Friday ... it booked more than $13 billion in write-downs amid surging credit costs, results that "reflect the continuation of the unprecedented market and credit environment."
The latest results included $6 billion in write-downs and credit costs on subprime-related exposures, $3.1 billion on leveraged loans, $1.6 billion on Alt-A mortgages and commercial real estate and $1.5 billion each on auction-rate securities and Citigroup's exposure to monoline insurers.
Wasn't last quarter the "kitchen sink" write down quarter?